Last week supporters of Federal Reserve transparency had a major victory when the House Committee on Government Oversight and Reform passed my Audit the Fed bill, HR 459 unanimously with all major audit provisions intact. This clears the way for a House floor vote expected sometime in late July, and with a whopping 263 cosponsors, the chances of it passing have never looked better! This is an unprecedented opportunity for transparency into how the currency of the United States is handled, and mishandled by the Federal Reserve. It is more important than ever that my colleagues in the House and Senate understand what this legislation does and why it is so important.
The Federal Reserve is an enormously destructive and unaccountable force in both the U.S. economy and the greater global economy. Federal Reserve policies affect average Americans far more than fiscal, spending, and tax policies legislated by Congress; indeed the Fed “spends” more than Congress when it creates trillions of new dollars on its balance sheet to bail out favored financial institutions.
For several decades the Fed has relentlessly increased the supply of U.S. dollars (both real and electronic) and kept interest rates artificially low. These monetary policies punish thrift, erode the value of savings, and harm older Americans living on fixed incomes and the poor. The Fed’s expansion of the money supply, combined with artificially low interest rates, creates destructive cycles of malinvestment. This results in housing, stock market, and employment booms and busts that destroy lives.
While the Fed was created by Congress, current law prohibits Congress from fully auditing the Fed’s monetary policy – the Fed actions that impact Americans the most. The Fed’s financial statements are audited annually, but the Fed’s monetary policy operations are exempt from audit. Congress’ investigative arm, the Government Accountability Office (GAO), currently is prohibited by law from examining discount window and open market operations; agreements with foreign governments and central banks; and Federal Open Market Committee (FOMC) directives. It is precisely this information that should be made public.
The audit mandated in the Dodd-Frank Act focused solely on emergency credit programs, and only on procedural issues rather than focusing on the substantive details of the lending transactions. Most of the data on its other activities, such as open market operations and discount window lending, have only been published as a result of lawsuits—not because of Congressional action. Dodd-Frank requires this information to be disclosed going forward, but with a two year time lag and with GAO restricted to auditing only the procedural components of any programs. H.R. 459 grants GAO and Congress access without special exemptions and ensures that ALL of the Fed’s lending actions will be subject to oversight.
Also, given the Fed’s establishment of dollar swap agreements with foreign central banks (which lent up to $600 billion at a time in 2008), and the increasing economic uncertainty surrounding Spain, Greece and the European Union, the Fed’s continued financial assistance to Europe should not be exempt from public accountability and Congressional oversight. H.R. 459 brings transparency to the Fed’s agreements with the European Central Bank and other foreign entities.
H.R. 459 does not limit the focus of the audit, making a full audit finally possible. An entity that controls the value and purchasing power of the dollar should not be permitted to operate in the dark without oversight by Congress and accountability to the people. The Fed needs transparency and H.R. 459 would provide it. We now have this opportunity to ensure solid passage of HR 459 on the House floor, then the Senate floor and have it promptly signed into law.
I was having a bit of writer’s block yesterday, actually going so far as to do a 15 minute audio recording last night that I ended up not liking. Fact is, the information seems to be coming so fast now I am just having a delay in processing time as I digest the news. Everyone seems to feel an acceleration, a quickening of events so it’s important to step back and fit the puzzle pieces together. Some call this the “big picture,” and we’ve been hearing some lofty claims of very positive shifts happening…SOON. Turns out I posted an article in haste which has so many gold nuggets buried, it took a day for them to shine through.
At the bottom of this post, Drake has posted a new note regarding the GREENLIGHT he issued which has been discussed since he began giving broadcasts. This was given officially around 8:20 EST Wednesday night, and is posted at his blog American National Militia. Before you read it though, try and keep these key points in mind, as I think they must be telling us something critical.
It’s the economy, silly!
Yesterday I posted an article from Reuters which has been mentioned in many places but didn’t receive quite the attention I thought it should, especially for all those “aware” of the mass arrest scenario. If you haven’t read this article, take 20 minutes and really read it over carefully. It took me 2 or 3 read overs to fully grasp the immensity of what it was suggesting;
Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.
The plans, known as living wills, are due to regulators no later than July 1 under provisions of the Dodd-Frank financial reform law designed to end too-big-to-fail bailouts by the government. The living wills could be as long as 4,000 pages
Did I hear that right? End too-big-to-fail bailouts by the government? They continue…
Since the law allows regulators to go so far as to order a bank to divest subsidiaries if it cannot plan an orderly resolution in bankruptcy, the deadline is pushing even healthy institutions to start a multi-year process to untangle their complex global operations, according to industry consultants.
“The resolution process is now going to be part of the cost-benefit analysis on where banks will do business,” said Dan Ryan, leader of the financial services regulatory practice at PricewaterhouseCoopers in New York. “The complexity of the organizations will shrink.“
For those scared of the world bank and the international corporate banking institutions – well – we’ve already had that haven’t we? This is what we want to deconstruct. That’s been the mechanism so far, and here it is in mainstream news that there is some kind of July 1 Deadline, whereby a 4,000 page document is being tendered to shrink the complexity of these organizations. Follow me?
But wait, there’s more…
JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N), Citigroup Inc (C.N), Goldman Sachs & Co (GS.N) and Morgan Stanley (MS.N) are among those submitting the first liquidation scenarios to regulators at the Federal Reserve and the Federal Deposit Insurance Corp, according to people familiar with the matter.
The five firms, which declined to discuss their plans for this story, have some of the biggest balance sheets, trading desks and derivatives portfolios of financial institutions in the United States.
This is a stunning statement! The biggest banks on the planet are the first to submit 4,000 page plans for liquidation scenarios but declined to comment on them! Why isn’t CNN, FOX, or MSNBC going crazy over this? I believe Drake said in his broadcast that things will get so immense, “they won’t have a choice.” Alex Jones, Gerald Celente and many others have covered the derivatives mess for years. When it comes to financial tyranny, derivatives are THE WEAPON OF CHOICE for enslavement and takeover – also known as the housing bubble and foreclosure crisis, IMF bank loans et al. Yet in this one article this seems to be addressed:
If the extensive planning and review process works as proponents hope, big banks will become less hazardous to the public and regulators will be more confident that they can let wounded institutions die without wrecking the economy.
In congressional hearings earlier this month, JPMorgan CEO Jamie Dimon said that the bank’s contingency plan for going out of business would let it fail without cost to taxpayers.
Skip to 5:40 for the quote
I’m no fan of JP Morgan and certainly not Jamie Dimon, but this is a stark contrast to what we heard from similar figureheads in 2008…
The tune has changed. The tables, turned.
PLAN FOR TWO WAYS TO DIE
Under the Dodd-Frank Act, banks and regulators must imagine liquidations in two different ways. The first is through bankruptcy courts with banks negotiating with their creditors. This is the going-out-of-business method planned in the living wills due July 1. The living wills must include how subsidiaries in foreign jurisdictionswill be liquidated.
These gems keep shining through and help corroborate a lot of what Drake has been saying. More specifically, he has said they will be seizing control of the collateral accounts which are the basis upon which the whole fiat debt system has been propagated. These accounts, which are specifically addressed in the Neil Keenan lawsuit are amounts of historic Gold and other “prosperity funds” that were stolen from we the people, and Reuters makes mention of it right here in black and white!
The second way is through a new kind of liquidation process in which the FDIC takes control of putting a financial giant down. This method has more flexibility than is allowed in bankruptcy courts, but still uses critical information collected in the banks’ living wills, such as where exactly to find collateral.
One of the other key points in “the plan” as I understand it, is that eventually the top of the pyramid would actually step forward and announce who they are, a la Nuremberg trials or as Ben Fulford puts it, a “truth and reconciliation committee” in a semi-televised manner. Again, Reuters reports:
The rules for crafting the living wills are 74 pages long, including an explanatory supplement. The plans could even include drafts of press releases showing how the banks would announce that they are going out of business, Herring said.
Bearing all this in mind, there are so many other key economic bullet points which indicate a very bumpy next few days.
Recently Lord Christopher Monckton reported that the G20 meeting in Rio de Janeiro was focused not on humanitarian efforts, but instead how they will go about clamping down the entire planet. This tiny group of people are struggling to maintain their suppression of a growing and rapidly awakening humanity. Watch Monckton break it down below:
In no less dramatic fashion, Lyndon Larouche released an audio blog on June 26, entitled “Our Enemies Could End Civilization This Weekend.” Give it a listen or continue on below for my comments.
Yes, he was referring to June 28-July 1, 2012.
Larouche has long been a proponent of reinstating Glass-Steagall which is specifically referenced in the aforementioned Reuters article. This rule was the original safety mechanism which prevented the banks from becoming gambling houses, as they have become in recent years. LaRouche writes and speaks of this particular rule as a way to sever the US monetary system from the private foreign central banking system and re-establish a national credit system. Yet again, Reuters reports that these regulations would take ques from this exact rule!
Lyndon has some pretty strong things to say about what might be a crummy weekend, even going so far as to say “stock up on toilet paper” and cites the imminent plans between Geithner and Bernanke to seek additional printing of money to bail out Europe. This would come in the form of a long predicted stimulus program called Quantitative Easing 3 or QE3. His report is detailed here. This program has been LOUDLY anticipated by a whole host of extremely well respected analysts including Peter Schiff, Jim Sinclair, James Turk, Eric Sprott and others. This “stimulus” is the only facility available to provide the funds necessary to prop up the Eurozone. This was always the plan! Destroy Europe, and have Americans pay for it.
Geithner and Bernanke Demand New Mega-Bailout of Europe:
Capitol Hill sources have confirmed that Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke are demanding that Congress prepare emergency legislation for yet another hyperinflationary bailout of the hopelessly bankrupt trans-Atlantic financial system. For the past week, the two men have been meeting secretly with leading Congressional Democrats and Republicans, demanding that they draft new legislation to bailout the banks on an even larger scale than after the 2008 collapse.
What’s Next for the Dollar? QE3?
According to several congressional sources, Geithner and Bernanke have pledged that they will do everything in their power to flood European banks with bailout funds through the Federal Reserve, but they candidly admit that it may be impossible, and that congressional action may be required. If the crisis hits, they warn, there must be legislation already prepared, because the speed and magnitude of the crisis may require extraordinary intervention to “save the system.”Continue Reading…
The implications of China paying for Iranian oil in gold is the most important event in the modern history of gold
1. It is reasonable to assume that China has been threatened with total or at least selective exclusion from the SWIFT system if it pays in any currency for Iranian oil.
2. Gold has been decided by China as the means of making payment for massive international purchases free of the SWIFT system.
3. Other Asian and Middle Eastern nations will now see the gold they hold as money free of Western economic interference.
4. Gold now is not only money free of liability, but also free from interference regarding settlement by the long arm of Western influence.
5. The SWIFT system is becoming ever more a weapon of Western international political will.
6. In case of war anywhere, it is now demonstrated for all to see that only gold will buy the materials required. Paper currencies are under the SWIFT system’s control in settlement.
7. Far from being a barbaric relic, gold is now clearly the money of state survival in every sense.
8. It is reasonable and possible for the supply of physical gold to fall far behind the size of the massive short positions now common to algorithm and hedge fund paper shorts. That will make an effective cover at a reasonable price as compared to a certain day’s close impossible the following day on an exogenous event.
9. It may not be possible to use TA of any nature to determine a price of overvaluation for gold. Should the USA decide to take on China in full out economic war with the physical market totally illiquid, such as through isolation from the SWIFT system, consider the gold price that might result.
Make up your own mind.
All I know is that the anticipation in the air is so thick you could nearly cut it with a butter knife. Whether you are fully conscious or still very much asleep, a momentous point in time is now undeniable for the majority of people. Ultimately 2012 will be about finding your own individual truth amidst peaceably fitting it in with the collective. Then, we can co-create as one…
With that said, a Native American proverb seems apropo;
It was expressed to me through ‘channels’ to state the following :
A – The Cavalry is coming.
B – If needed we will be contacted.
C – Sit back and watch the fireworks
There are two parts to this:
– First are the actions to be taken by our military in support of FREEDOM. This will be extraordinary in all ways. It does involve extremes in tacticalas well as logistical implementation. You may see some troop movement and supporting roles in public.
There may be minor delays in the usual traffic flows. The design is to make sure as much as possible is taken care of without problems.
– Second was the statement made that all of us are to be on full Alert. Engage drones and any troops under U.N. insignia. This is still in effect.
Be absolutely sure of your target. Do not engage our military.
IF needed our military will contact us. In the field this will be a couple of troops, an NCO, and an officer, lieutenant, captain, major, or colonel. They should be saying hello, or some other greeting, telling you they are there and want to talk.
Otherwise, sit back and watch the fireworks.
~~~~
I suggest we remain fully alert and vigilant just in case.
According to the information that has been given, we beat their time table. Plus it seems that our military has won its battle/argument internally, the good guys won and are now in charge.
The three items above are what was given to me to broadcast.
The last item was the call of GREEN LIGHT.
There are TWO green lights. One as stated about the above (tactical) and the other deals with financials. Two commands, both acting according to what was decided as the best way to handle both.
Each being as complicated as they are, separation of these two was the best tactical maneuver because of the acceleration or move up of our enemies’ plans of execution. This had been considered before, but left alone because both were to take place at the same time. Obviously that changed according to the enemy moving their plans ahead of their original schedule.
I was told that a tactical GREEN LIGHT was to be called if asked about it, and I did so. We are still waiting for the secondary GREEN LIGHT of finance. I look for this very soon.
Those who are experienced should be followed, as it is these people who demonstrate calm and cool under extremely intense situations. This can be anyone with this ability. Military personnel offer the ability to operate effectively under extremes and know how to offer the structure for success where any objective or mission is possible. Pay attention to them.
What we have before us is the awesome responsibility of freedom. Most have no idea as to the changes this will bring about at all levels, personal, social, and publicly. Everyone will discover that we all need each other, talents, professionally, and personally. Some hard places to get past are defined as race, creed (beliefs), and superiority.
I have never been prejudiced, as I didn’t see a lot of difference between people. Sure, some people are different looking than me, but, other than that, the person inside was the same. Most people I’ve ever gotten to know, all had their own personal beliefs, no matter what church they attended. A sort of peace made between a person and their belief in a superior entity.
Superiority is going to be directed by what a person is able to do. A specific talent should be respected in that the person who knows and works with it, should be given a superior respect within that area.
Due to the changes in operation and the outing of this information, it should be obvious that plans of any kind need to be fluid in order to remain viable. Just as a football play may be changed on the field, tactics change to maintain advantage. Bear in mind that this is our last chance and all of us need to make sure we win.
The House oversight committee voted Wednesday to demand a broad audit of the Federal Reserve System by congressional investigators — a major move that lawmakers said is designed to bring accountability to the murky workings of the independent central bank.
The bill was sponsored by Rep. Ron Paul, the Texas Republican who turned the push for an audit into a powerful presidential campaign slogan and whose criticism of the Fed’s monetary policy drew hundreds of thousands of voters into the political process.
It passed by voice vote, signaling the growing sense among lawmakers that the time has come for a full review.
“Clearly the Fed must be made too big to fail, and too big to fail requires a considerable amount of oversight,” said Rep. Darrell E. Issa, California Republican, who is chairman of the committee.
Federal law right now specifically prohibits such a broad audit, and opponents fear undermining the independence of the Fed.
The bill would direct the Government Accountability Office to complete a broad audit that presumably would include a peek at the Fed’s decision-making and many of its lending policies.
The committee defeated an amendment sponsored by Rep. Elijah E. Cummings, Maryland Democrat, that would have prevented auditors from getting a look at the minutes of internal board discussions.
“This whole idea about ‘Well, we can’t touch the Fed‘ is baloney,” said Rep. Dennis J. Kucinich, Ohio Democrat. “We have to be able to have control over the Fed because it’s controlling every aspect of our economy.”
The Federal Reserve consists of a board of governors and 12 regional banks, which act as lenders of last resort to the country’s banking system.
Last year, a more limited audit by GAO found that the Fed repeatedly invoked emergency authority to expand its lending during the Wall Street crisis in 2008 and 2009, including major loans to prop up the housing market.
The audit also found that the Federal Reserve Bank of New York, which had a major role in the lending, did not have sufficient controls to prevent conflicts of interest for its employees.
At least 100,000 people, including 29,000 social welfare recipients and 40,000 HSE employees, were left outraged when an Ulster Bank technical glitch left them without their pay.
A spokesperson for the Department of Social Welfare said: “29,000 social welfare customers have been affected by the glitch. We’re still awaiting confirmation from Ulster Bank when these people can access their money. For our customers there is the option of going to the community welfare office for a supplementary payment to tide them over.”
Ulster Bank had initially told the department that people would be able to access their payments, but over the course of yesterday it emerged that the bank had been unable to process their payments.
The HSE was also hit with problems processing payments: 40,000 employees found their accounts were not showing any wages payments.
The HSE’s national director of finance, Liam Woods, sent an email to all staff to tell them that there would be a delay in salary payments.
“The HSE has been informed that, due to a technical issue currently being experienced by Ulster Bank, there will be a delay in the lodgement of salary payments due to be made today to some staff. The HSE is one of a range of organisations in Ireland and the UK currently being affected by these issues.”
The issues with Ulster Bank technical systems have had a knock-on effect on customers in other banking institutions as well. It is understood that no payments (debits or credits) were received from Ulster Bank. This has affected customers in other banks such as AIB and Bank of Ireland who were expecting payments that have not been processed by Ulster Bank.
A spokesperson for AIB said: “AIB are working closely with Ulster Bank to assist them in every way possible in an effort to reduce the impact on customers.”
A spokesperson for Bank of Ireland said the problems at Ulster Bank could result in some customers incurring late fees. “We are working closely with customers who contact us in difficulty but, at this point in time, it is not possible to determine the impact of charges such as late payment and unpaid fees that some customers may incur as a result of delayed payments from another bank, and we would encourage any customer who is adversely affected by such charges as a direct result of the delay to make direct contact with us.”
Ulster Bank said it has been trying to minimise the impact on its customers and will keep branches open until 7pm today.
“We will be keeping approximately 80 Ulster Bank branches open until 7pm in major towns and cities to assist customers who are unable to get to their branch during working hours and our 60 Saturday opening branches will open as usual this weekend,” said an Ulster Bank spokesperson.
As the old cliché goes, sometimes truth is stranger than fiction. Empirical evidence proves the current financial crisis has been caused by an artificial intelligence. This artificial intelligence was born out of a monetary system that was not based in reality but was parasitical on reality.
That is why most trading on today’s financial markets is carried out by computers and not humans. That is why they are trying to remove all human traders from the Chicago Mercantile Exchange. That is why the small human elite still living an astronomically rich life have been promoting the use of killer drones to replace human soldiers who are no longer obeying orders. That is also why so many youth reduced to slavery and drudgery by the elite are escaping into virtual reality.
Well, reality has struck back and dealt a fatal blow to the money matrix known to some as Satan.
As mentioned before, the intense media and even internet coverage of the “financial crisis,” or the “European crisis,” has consistently ignored the elephant in the living room. What has happened is that the people of the planet who make real things in the real world are no longer paying homage to the financial beast that Wall Street and the City of London, together with their Vatican brain-washers and Washington D.C. bully boys have morphed into.
Something very interesting happened last Friday that caught the attention of many gold analysts, market watchers and central bankers. The price action in the global markets versus Gold seemed to indicate a decoupling effect which signals increased recognition of Gold’s safe haven functionality as well as the continuing deterioration of financial conditions around the world. For years, gold and silver spot prices have been manipulated by big monied paper shorts and other leasing agreements which put downward pressure on the bullion spot price. This was and has been engineered deliberately to discourage the uncommitted from linking central bank policy to an increase in the price of these commodities, but on Friday the manipulated metals swung back. In the face of a plunging market, both gold and silver prices shot higher and the corresponding mining shares held strong despite falling equities. This led to a number of incredibly time-critical articles being written which seem to underline impending, imminent, and likely catastrophic money printing.
Given the synchronicity of these developments with the prophesied June 5-6 date, venus transit, and even Jim Sinclair’s proclamation that the US Dollar will die June 28 due to China’s agreement to buy oil from Iran in gold– I implore all of you to connect the golden dots to better prepare yourself for what looks to be the most significant economic shift in the history of the world.
Today’s lesson that you should have derived from your elementary and middle-school math is served….
Let’s recap first.
GDP = C + I + G + (x – i), where “C” is consumption, “I” is investment, “G” is government spending and (x – i) is net exports.
GDP must be bought with something, and that “something” must either be money or credit. Since each “unit” of money or credit “turns over” in the economy some number of times in a year, and the unit of time in GDP is a year, we have:
GDP = ((M + C) * V), where “M” = money (earned output from personal production), “C” = credit (a promise to produce tomorrow) and “V” = Velocity (number of times the “M” or “C” turns over.)
Now let’s look at “M”, or “money.” We think of “money” as cash, but in fact “M” is a subset of something larger, otherwise known as “wealth”, or “W”. Wealth is that which you’ve previously earned and retain. “M” is that which you can immediately dispose of and is a subset of “W”.
There are two forms of “C”, or credit. “C” either comes into existence because you sequester some of your “W”, or it comes into existence without such a sequester.
When you take a loan backed by collateral you are making liquid current wealth. In doing so you post as reserve something you hold as wealth. This is not inflationary for that reason — you withdraw from the market the potential use of that wealth during the time the loan is outstanding by posting it as security.
But when you have unsecured credit outstanding that is pure monetary inflation because you posted exactly nothing against it other than your word you will pay, and that has no wealth value (it is “on the come” that you will earn wealth tomorrow.)
Here is an incredible 11 minute video that illustrates the coming monetary paradigm shift. While unrelated to this blog, the author seems to have come to many of the same conclusions I have regarding our current fiscal direction. He eloquently states the silver thesis which makes it a no-brainer way to save your money and purchasing power in the current macroeconomic environment. This is why I save my money in cold hard coin.
According to the Bank of International Settlements, as of June 2011 total over-the-counter derivatives contracts have an outstanding notional value of 707.57 trillion dollars, ( 32.4 trillion dollars in CDS’s alone). Where does this kind of money come from, and what does it refer to? We don’t really know, because over-the-counter derivatives are not transparent or regulated.
With regulated economic markets, when an underlying real asset is impaired (i.e. the company in question is bankrupt, the mortgage has defaulted, etc.), market value is assessed, default insurance is paid up to replacement or full value, bond holders and stock holders make claims on remaining value and the account is closed. There is no need for bailouts because order and proportion of compensation has been established and everything is attached to the value of the underlying asset.
When the unreal, counterfeit economy intrudes, you now have a situation where a person can put in an unregulated, but recognized, claim to be paid a thousand times over in case of impairment. Say market participants have negotiated for a bankrupt company a 70% payback for bondholders and (36% payback for insurance claims), and I come with not one but rather 1,000 CDS claims demanding to be paid for each CDS.
To give you a better perspective on what 1 trillion dollars looks like, view this to-scale image of an average human standing next to 1 trillion dollars denominated in stacks of $100 bills:
Just imagine, this multiplied by 707+ times! This is so much more money than the entire GDP of the world, it is only a matter of time before the confidence is lost.
It’s interesting to ponder the fact that every dollar you have in your pocket is actually an instrument of debt. It isn’t money, it isn’t value, it isn’t a commodity that you exchange for a good or service – it is a debt that must be accepted as legal tender. Therefore, every dollar that comes into existence is a dollar of value + an amount of debt. So it seems reasonable to assume then that while our spending facilities have increased over time to create an insurmountable deficit that will no doubt precipitate a cataclysmic economic collapse, it is not simply a function of Governmental wrecklessness so much as it is a function of how our monetary system is structured. If money (and therefore value) cannot exist without an amount of debt ascribed to that money or value, then there can not be value or production without an equal or greater amount of debt in the market place. It is only the ability of our population to pay the interest of that debt that keeps this cycle going.
So what do we do about it?
Since every dollar in existence is by definition worth less than its face value due to the interest owed on its existence, it is impossible to ever pay off the debt in its entirety. We are, by design, debt slaves. The only way to overcome this perpetual cycle of money-debt creation is to destroy the system that perpetuates it and let the market decide what can be exchanged as money and what can not. Here is an interesting clip which hints at a time when that was an economic reality in this country:
Last week supporters of Federal Reserve transparency had a major victory when the House Committee on Government Oversight and Reform passed my Audit the Fed bill, HR 459 unanimously with all major audit provisions intact. This clears the way for a House floor vote expected sometime in late July, and with a whopping 263 cosponsors, the chances of it passing have never looked better! This is an unprecedented opportunity for transparency into how the currency of the United States is handled, and mishandled by the Federal Reserve. It is more important than ever that my colleagues in the House and Senate understand what this legislation does and why it is so important.
For years, gold and silver spot prices have been manipulated by big monied paper shorts and other leasing agreements which put downward pressure on the bullion spot price. This was and has been engineered deliberately to discourage the uncommitted from linking central bank policy to an increase in the price of these commodities, but on Friday the manipulated metals swung back. In the face of a plunging market, both gold and silver prices shot higher and the corresponding mining shares held strong despite falling equities. This led to a number of incredibly time-critical articles being written which seem to underline impending, imminent, and likely catastrophic money printing.
The Golden Rule 